Yes and traditionally this was associated with finite resources like gold and silver, which actually are worth something. They are cemented into history and all of human history as a resource that holds it's worth. Unlike this infinite fiat currency which can be magicked out of thin air. The only good thing about fiat currency is it's 100% failure rate.
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Fiat money is crazy if you think about it. It means that there is no intrinsic value to the money itself, or it is negligible. Back in the day, when people used to have silver and gold money, now that seems to make more sense, because those metals have intrinsic value.
You can actually use them for something. But still, they are also a bit fiaty, because I mean, you are probably not gonna go and melt the gold you got for your sheep or whatever and use it for a filling in your tooth. I guess the only real non-fiat situation is where you barter. In other words, I give you three sheep for one month’s accommodation, or I give you 10 loaves of bread in exchange for 1 kg of coffee beans. Some people still do this to avoid tax I think.
Yeah, ive often pondered that conundrum with fiat money @pjcswart
Like even as a kid i would wonder why we had to use paper to pay for things. "Oh bevause it is backed by gold"then why can't i have the gold instead mommy ? "You just can't"
Oh the future "burden" ill have if my kid is as inquisitive as i am. Lol.
Bartering would be nice to avoid taxes though
Yeah kids can be very smart sometimes but in a cool way. Like they don't have the other baggage that we have in our thinking. Innocence is powerful you know....